Getting started!!!
First off, let me welcome you to my blog. I'll go ahead and start out by letting you know what I am looking to accomplish with my investment goals. I am looking to generate passive income from the stocks that I invest in.
So what is passive income? Passive income is income that is earned with no really effort. How do you achieve passive income through investing? Passive income can be achieved by purchasing stocks that pay dividends on monthly, quarterly, semi-annual, or annual basis. By buying dividend stocks you are being paid buy the company for owning the stock.
Building a passive income takes time to achieve unless you have a lot of cash laying round to get started. For me this is not the case, so I will need to build up my investing portfolio a little bit at a time, while also taking the dividends that I do receive and reinvesting them to buy more stocks.
So how does this work? Let's take a look at an example. Say I purchase 4 shares of Bank of America(BA) stock at $20 a share at a cost of $80. Let's say Bank of America is paying out a $.15/share dividend quarterly. When the dividend is paid out if we own 4 shares we would be given $.60. So you just got $.60 for doing nothing but holding the stock, and while this is not a lot if you continue to build your portfolio of stocks it will start to add up.
So what can you do with your dividend payouts, well depending on the company that you use to invest with you may have the option to buy fractional shares. If you can buy fractional shares then you should be able to set up your account to automatically reinvest your dividend in to the stock that paid them out. If you reinvest your dividend then you start to build up more shares and the next time the dividend is paid out you would get a little bit more of a dividend payout and increasing your long term compounding of your investments.
So what are some good options to get started. There are several companies out there that offer free stocks to get started.
Here are a couple of the online options that I am currently using and yes if you sign up using my link you will be helping me to receive free stocks and I would like to thank you in advance.
Robinhood offers commission free trades and will give you a free stock valued at between $2 and $250 just for signing up. You can also earn more free stocks when you refer other users. Robinhood offers basic research capabilities and is working to bring fractional share purchasing to users in the near future. This is a really good application for beginners with it's simple UI and ease of use.
Sign up for Robinhood
WeBull is another brokerage that offers commission free trading. WeBull also offers new accounts a free stock valued at between $2.50 and $250 dollars. They also will give you a second free stock when you make a qualifying initial deposit of $100 the second free stock will have a value between $12 and $1400.
Sign up for WeBull
So keep checking back for more posts about my journey where I will talk about different things that I learn as well as allow you to watch my portfolio grow.
If there are anythings that you might be interested in learning about please leave a comment. Also if you found this helpful please be sure to share it with your friends.
So what is passive income? Passive income is income that is earned with no really effort. How do you achieve passive income through investing? Passive income can be achieved by purchasing stocks that pay dividends on monthly, quarterly, semi-annual, or annual basis. By buying dividend stocks you are being paid buy the company for owning the stock.
Building a passive income takes time to achieve unless you have a lot of cash laying round to get started. For me this is not the case, so I will need to build up my investing portfolio a little bit at a time, while also taking the dividends that I do receive and reinvesting them to buy more stocks.
So how does this work? Let's take a look at an example. Say I purchase 4 shares of Bank of America(BA) stock at $20 a share at a cost of $80. Let's say Bank of America is paying out a $.15/share dividend quarterly. When the dividend is paid out if we own 4 shares we would be given $.60. So you just got $.60 for doing nothing but holding the stock, and while this is not a lot if you continue to build your portfolio of stocks it will start to add up.
So what can you do with your dividend payouts, well depending on the company that you use to invest with you may have the option to buy fractional shares. If you can buy fractional shares then you should be able to set up your account to automatically reinvest your dividend in to the stock that paid them out. If you reinvest your dividend then you start to build up more shares and the next time the dividend is paid out you would get a little bit more of a dividend payout and increasing your long term compounding of your investments.
So what are some good options to get started. There are several companies out there that offer free stocks to get started.
Here are a couple of the online options that I am currently using and yes if you sign up using my link you will be helping me to receive free stocks and I would like to thank you in advance.
Robinhood offers commission free trades and will give you a free stock valued at between $2 and $250 just for signing up. You can also earn more free stocks when you refer other users. Robinhood offers basic research capabilities and is working to bring fractional share purchasing to users in the near future. This is a really good application for beginners with it's simple UI and ease of use.
Sign up for Robinhood
WeBull is another brokerage that offers commission free trading. WeBull also offers new accounts a free stock valued at between $2.50 and $250 dollars. They also will give you a second free stock when you make a qualifying initial deposit of $100 the second free stock will have a value between $12 and $1400.
Sign up for WeBull
So keep checking back for more posts about my journey where I will talk about different things that I learn as well as allow you to watch my portfolio grow.
If there are anythings that you might be interested in learning about please leave a comment. Also if you found this helpful please be sure to share it with your friends.
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